Jobs and the Future of Work

How London’s financial sector has more employees than ever before

Will Martin
Markets Reporter, Business Insider UK
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There are now more people working in the City than ever before, according to new evidence from TheCityUK released on Friday.

As of June, more than 700,000 people were working in the financial sector in the capital, up 2.2% from the start of the year. More people are going to keep pouring into the City to work as well, with more than 7,300 jobs forecast by the end of the year.

Chris Cummings, the chief executive of TheCityUK said “London is the leading international financial centre and the industry is a major contributor to the national economy – attracting more foreign direct investment and contributing more tax (£66 billion in 2013/2014) than any other industry in the UK.”

Across the industry, the biggest rises in employment were in accounting and management consultancy, where there are now 260,500 people working, up 4.7%, and in fund management, which grew by 4.3%.

“A strong financial and related professional services industry and a strong economy go hand-in-hand and we urge policymakers to create a supportive environment to ensure London and the UK remains a competitive and attractive place from which and within which to do business.” said Cummings

If you want to know more about how London’s financial sector is structured, check out this awesome infographic from TheCityUK:151013-london financial sector BI infographic

This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.

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Author: Will Martin is a digital fellow at Business Insider UK. 

Image: Silhouetted workers walk in front of office towers. REUTERS/Luke MacGregor.

 

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Jobs and the Future of WorkFinancial and Monetary Systems
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